Rapidly expanding Dude Solutions has expanded its presence in a vibrant market by acquiring a company whose software is used by 650 senior living communities in the U.S. and Canada.
Financial terms of the acquisition of Toronto-based Windmill Software, which is being announced Wednesday, weren’t disclosed.
The acquisition is expected to help fuel Dude Solutions’ continued growth, said co-founder and CEO Kent Hudson.
Today Dude Solutions has more than 400 employees, including about 380 at its Cary headquarters, and anticipates adding 90-plus employees this year.
“I would expect us to end the year with about 500 employees,” Hudson said.
Windmill has just 11 employees and about a half-dozen contractors, yet Hudson said its comprehensive software for running a senior living facility, TheWorxHub, leads this fast-growing market.
“The best is now part of the Dude,” Hudson said.
The game plan for Dude Solutions, which had about 100 clients in the senior living sector prior to the acquisition, is to use its greater resources to ramp up TheWorxHub’s market penetration.
Privately held Dude Solutions generated about $40 million in revenue last year, up from $34 million in 2013.
Its original business, SchoolDude, offers software applications that help school districts and universities manage their buildings and information technology operations.
Its other business, Facility Dude, offers a similar suite of facility management products to state and local governments, hospitals and senior living facilities and others.
TheWorxHub will be offered by Facility Dude and adds support for functions at senior living facilities, such as housekeeping and inventory, that it didn’t offer previously.
For example, TheWorxHub includes a trip management feature that enables facilities to schedule residents’ trips to the doctor’s office, a shopping mall or other places, Hudson said.
Windmill is one of those companies where the company’s name isn’t well-known, but its product, TheWorxHub, “has great brand equity,” Hudson said.
The Windmill deal is Dude Solutions’ first acquisition since the company received a commitment of up to $100 million in new capital from private equity firm Warburg Pincus last year.
But Hudson said Dude Solutions currently is working on another deal.